BITFURY IS OPENING AN AI DIVISION

According to a business news outlet, Reuters, the Bitfury Group, the largest blockchain service firm globally, is developing an artificial intelligence division. This new unit is going to work with the company’s other units.

The Bitfury Group is among the short list of crypto firms that are worth over USD 1 billion. Other companies that are valued more than a billion are crypto trading platform, Coinbase, as well as Bitmain, the biggest crypto mining company worldwide.

The co-founder of the blockchain service company, Valery Vavilov, stated that they began looking into the use of artificial intelligence as the data that should be processed grew.

Valvilov claimed that information is the new old and the company managed to gather a lot of data. Yet, they were able to analyze only 2 percent. Artificial intelligence will help Valvilov and his company effectively examine the large amount of information.

On the other hand, blockchain made the data trustable. This technology became very popular in various industries during the last years.

Artificial Intelligence, frequently referred to as AI, is among the most quickly growing industries. In Q2 of 2019, Artificial Intelligence businesses received over USD 7.4 billion from investors. The Bitfury Group’s artificial intelligence division still hasn’t been completely established and the firm will provide AI services only by the end of next year.